|Number of units||63|
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer, on an exclusive basis, the opportunity to acquire the fee simple interest in 12 Hemenway (the “Property” or “Asset”), an ideally located asset situated in Boston’s Fenway neighborhood. Built in 1899, the 30,379 SF Property is a licensed lodging house and has historically operated in both the hospitality and residential space. From August 2017 to July 2019 the Property was leased to Emerson College as an auxiliary dormitory. The Property is currently being operated for private student housing, but it has a history of flexible uses including as a hostel. The Property has undergone extensive renovations and boasts newly upgraded plumbing and electrical systems as well as refurbished flooring, light fixtures, bathrooms, and common areas. The Property’s zoning allows for a wide range of uses including student housing, multi-housing, hospitality, and institutional.
The Property sits at the intersect of two of Boston’s most dynamic neighborhoods – Back Bay & Fenway. To one side, 12 Hemenway reaps the benefits of the city’s culturally-rich Back Bay Neighborhood known for its luxury shops along Newbury Street, Victorian brownstone houses, trendy eateries and pubs, world-reputed medical centers, nationally-acclaimed colleges and universities, the Prudential Center and strong corporate demand generated by numerous Fortune 500 companies. To the other side, the Property has access to the lively Fenway neighborhood centered around the iconic Fenway Park, transformative new developments at Fenway Center, 1001 Boylston, and Landmark Center, and the beautiful Back Bay Fens – a large public park with everything from walking trails to community gardens and athletic fields. This is a rare investment opportunity in one of Boston’s highest barrier to entry submarkets.